After a contemporary redesign, the triplex penthouse perched atop the Pierre Hotel is back on the market, once again, and this time it's asking a comparatively modest $57 million. The Wall Street Journal first reported on the apartment's most recent price cut and return to the market.
The five-bedroom apartment was first listed on the market back in 2013 for a staggering $125 million. That obviously did not work out for its owner Barbara Zweig, who by the end of that year had cut the asking price by $30 million. In early 2015, that price took another beating — almost slashed in half from its original ask to $63 million. After another unsuccessful attempt, it went off the market last fall, and now it's back. So, that's the Pierre Penthouse saga for you in a nutshell.
Despite all the price cuts, nothing's really changed in terms of size — the owner, and the brokerage firm representing the property, Brown Harris Stevens, believed the "formal decor" of the apartment was putting off some of the interested buyers. So, they put a modern spin on it removing some of the carpeting and the patterned wallpaper.
Zweig listed the penthouse apartment upon the death of her husband, the financier Michael Zweig in 2013. She has since purchased an apartment on one of the lower floors of the building for $12 million, according to the WSJ.
- Listing: 795 Fifth Avenue #PH [Brown Harris Stevens]
- Revamped Pierre Hotel Penthouse Returns to Market at $57 Million [WSJ]
- Palatial Pierre Penthouse Slashes Ask in Half to $63 Million [Curbed]